Rivian reports 13,972 deliveries in Q4 and 50K through 2023

Rivian today shared the business result for the fourth quarter of 2023 including a decline in quarterly deliveries but a good yearly delivery report.

The carmaker said that it produced 17,531 vehicles at an Illinois factory and delivered 13,972 vehicles throughout Q4, 2023.

Compared to this, Rivian reported 15,564 vehicle deliveries in Q3 and 16,304 units in production for the same quarter. This comparison shows a quarterly decline of about 10% in the fourth quarter.

Rivian currently listed two vehicles in the market including an R1T pickup truck and R1S SUV.

Overall, the carmaker sold about 50,122 vehicles throughout 2023, while it produced 57,223 vehicles. While the company has expected a full-year production guidance of 54,000 vehicles.

Based on the announcement, Rivian will host an audio broadcast at 5:00 p.m. on February 21st to discuss the performance and the outlook of the business.

Last year, Rivian also shared its plans to build a $5 billion electric vehicle manufacturing plant in Georgia. The plant expands to 1,800-acre and will create 7,500 jobs.

This plant is expected to become functional in 2026 and has an estimated capacity to produce around 400,000 vehicles per year. However, the slowdown in demand for its latest vehicles might trigger a decline in its EV interests.

(source – Rivian)